Case Study

Training & Competence Lead

A  UK retail bank required an interim Training & Competence Scheme to support their UK Banking License application

By Richard Plaistowe

The Client

A European headquartered retail bank, with a UK-wide branch network. They are consumer focussed and their products include current accounts, savings and lending.

The Challenge

The Bank was going through the application process for a banking license and as part of the process, needed to create a Training and Competence scheme to embed regulatory compliance and ensure it was aligned to the corporate culture before the banking license was approved by the PRA and FCA.

The Solution

There were no internal capabilities that would allow the organisation to manage this part of the programme, so an external solution was required.

Initially, research was undertaken to design a Training and Competence framework that would ensure compliance to the appropriate regulations.

Subsequently, 10 workstreams were set up including assessment, competence framework, compliance, recruitment, and training, with the remit of focussing on enhancing processes and ensuring all employees were capable and competent to perform their roles.

All existing bank employees went through the training and assessment processes.

The Results

The bank’s Training & Competence scheme was designed to the required standards of the regulators and ultimately the bank received its bank license on time.

A suitable T&C framework was put in place that could be adapted for future changes in regulation.

There are effective reporting mechanisms in place to identify gaps in training within the workforce.

The framework has been included as part of the new joiner induction process so relevant individuals are quickly aligned into the business.

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